Beltline Warehouse at Lee &
For Sale
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979 Donnelly Ave SW, Atlanta, GA 30310
Warehouse at Lee & White in West End, Atlanta.
Property Size20,000 SF
Lot Size0.92 Acres
Price / SF$195
Days on Market182
Property Features for 979 Donnelly Ave SW
General Information
Standard status
Active
Size
20,000 SF
Total Parking Spaces
16
Lot size
0.92 Acres
Property subtype
Industrial
Zoning
L-1
Building Details
Buildings
1
Stories
1
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Michael Wess · License #GA 256959
Source:
Crexi
Added: Feb 27
Changed: Aug 21
Last Checked: Aug 26 at 4:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bull Realty
Investment Insights
Based on property information with market context.
This warehouse property, situated at Lee & White in the West End area of Atlanta, encompasses approximately 20,000 square feet and is positioned on a site of approximately 0.92 acres. The property is intended for warehouse and industrial use.
Key Highlights
- Direct access and high visibility along the Atlanta Beltline.
- Substantial ±20,000 SF warehouse space suitable for various uses.
- Large ±0.92 AC provides ample space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$140,233
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,804,660
$2.8M
Cap Rate 7%
$2,003,329
$2.0M
Cap Rate 9%
$1,558,144
$1.6M
Market Conditions
NOI Build-Up for 20,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.8K $9.04/SF
− Vacancy
−$15.8K −$0.79/SF
EGI
$165.0K $8.25/SF
− OpEx
−$24.7K −$1.24/SF
NOI
$140.2K $7.01/SF
Area
Atlanta, GA
Vacancy
8.75%
Lease Rate
$9.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,804,660
Cap Rate 7%
$2,003,329
Cap Rate 9%
$1,558,144
Alternative Uses
Best Use
Warehouse
$2.00M
$1.75M – $2.34M
NOI $140,233 @ 7.0% cap · market cap 3.60%
Second Best
Industrial
$1.65M
$1.44M – $1.92M
NOI $115,486 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,354 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30310, GA
27,365
Population
14,033
Households
2
Avg Household Size
37
Median Age
34%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,182
Density / Sq Mi
$45,542
Median Household Income
$36,726
Median Earnings
$1,099
Median Rent
$295,800
Median Home Value
Market
Vacancy Rate% for Industrial in Atlanta, GA
Questions? Ask Rey
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Similar Off Market Nearby
- Units Unlimited, Inc. — 858 Avon Ave SW, Atlanta, GA 30310
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse at Lee & White in West End, Atlanta.
Where is this warehouse located?
The property is located at 979 Donnelly Ave SW Atlanta, GA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Direct access and high visibility along the Atlanta Beltline.; Substantial ±20,000 SF warehouse space suitable for various uses.; Large ±0.92 AC provides ample space.
